Barclays joins Zapp as Apple Pay looms
07 July 2015 | 19343 views | 4
With the UK launch of Apple Pay imminent, Barclays has joined the ranks of financial institutions and retailers supporting the home-baked 'Pay by Bank App' from Zapp.
A notable absentee from both Apple Pay and Zapp, Barclays has now thrown its weight behind the VocaLink-developed service, which enables users to pay for their purchases direct from their online bank account via a bank's own mobile app. Corporate and consumer users of Barclays Pingit mobile money transfer service will be the first bank app live with Zapp when it opens in October.
The addition of payments via the Pingit app makes Zapp’s Pay by Bank app the UK’s first total market mobile payment service, available to all consumers regardless of who they bank with, or which smartphone brand they use. The news comes the day after Apple confirmed that it is about to go live with Apple Pay in the UK on 14 July.
Zapp will initially be available online-only, but VocaLink has confirmed that an instore POS-based option is waiting in the wings.
The addition of Zapp to the Pingit payments portfolio also means that Barclays Corporate Banking unit will be able to act as a distributor of the service to corporates operating in retail , transport, utilities, local authorities and financial services. In doing so Barclays joins WorldPay, Elavon, Optimal Payments, Realex and SagePay in spreading the word about Zapp to the wider UK merchant market.
Sainsbury’s, Asda, House of Fraser, Thomas Cook and Shop Direct are among the major British retail brands that have already announced their support for Zapp. HSBC, First Direct, Nationwide, Santander, which are all Apple Pay supporters, will also support Zapp at launch.
Peter Keenan, chief executive of Zapp, comments: “We’re delighted to be able to announce that Pay by Bank app will now include Barclays Pingit. Having Barclays come on board - with their huge scale and enviable reputation for innovation, coupled with their extensive corporate client base - reaffirms that Barclays and Zapp are at the cutting edge of Fintech, innovation and collaboration.”